_ _  • _ _ 


CHARTER  AND  BY-LAWS, 


REPORT  AND  TRUST  DEED 


Wv, 


OF 


Cj n  §f(lcbillf  a  it  tr  !JIIinoilst0lim 


RAIL  ROAD  COMPANY. 


NEW  YORK : 

WILLIAM  0.  BRABANT  00.,  PRINTERS.  18  NASSAU  STREET. 


1853. 


UNIVERSITY  of  ILLINOIS 

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CHARTER  AND  BY-LAWS, 


I'lV  (' 

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REPORT  AND  TRUST  DEED 


C|e  §elliinllt  atrir  Jltoistoit 


RAIL  ROAD  COMPANY. 


NEW  YORK : 

WILLIAM  C.  BRYANT  &  CO.,  PRINTERS,  18  NASSAU  STREET. 


1  85  3. 


BOARD  OF  DIRECTORS. 


EDWARD  WYMAN, 
ASBURY  HARRISON, 

S.  STOOKEY, 

FRED.  VON  SCHRADER, 
SAMUEL  B.  CHANDLER, 
EDWARD  TITTMANN, 
JOSEPH  KIRKPATRICK, 

JAMES  L. 


JAMES  MITCHELL, 
CHARLES  CHOUTEAU, 
ALEXANDER  KAYSER, 
JACOB  KNCEBLE, 
EDWARD  ABEND, 
CONRAD  BORNMAN, 
FRANCIS  STOLTZ, 

.  MORRISON. 


JAMES  L.  D.  MORRISON,  President. 
T.  J.  KRAFFT,  Secretary. 

JOSEPH  KIRCHER,  Treasurer. 


AN  ACT 


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To  Incorporate  the  Belleville  and  Illinoistown  Railroad 

Company . 

Section  1.  Be  it  enacted  by  the  People  of  the  State  of  Illinois 
represented  in  the  General  Assembly  :  That  Samuel  B.  Chandler, 
Edward  Tittman,  Jacob  Kncebel,  Frederick  Von  Schrader,  Asbury 
Harrison,  Russell  Hinckley,  Edward  Abend,  Charles  Chouteau, 
Robert  Christie,  jr.,  James  H.  Lucas,  Narcisse  Pensoneau,  John 
Winter,  Alexander  Kayser,  Philip  B.  Fouke,  James  W.  Hughes, 
Samuel  Stookey,  James  Mitchell,  Joseph  Kirkpatrick,  Janies  L. 
D.  Morrison,  Frederick  Kempff,  William  H.  Snyder,  William  W. 
Roman,  and  such  other  persons  as  they  associate  with  them  for 
that  purpose,  are  hereby  made  and  constituted  a  body  corporate 
and  politic  by  the  name  and  style  of  the  “  Belleville  and 
Illinoistown  Railroad  Company, ??  with  perpetual  succession, 
and  by  that  name  and  style  shall  be  capable  in  law  of  taking, 
holding,  purchasing,  leasing,  selling  and  conveying  estate  and 
property,  real,  personal  and  mixed,  so  far  as  the  same  may  be 
necessary  for  the  purpose  hereinafter  mentioned  and  no  further ; 
and  in  their  corporate  name  may  sue  and  be  sued,  to  have  a  com¬ 
mon  seal,  which  they  may  alter  or  renew  at  pleasure,  and  may 
have  and  exercise  all  powers,  rights,  privileges,  and  immunities 
which  are  or  may  be  necessary  to  carry  into  effect  the  purposes  or 
objects  of  this  act,  as  the  same  are  herein  set  forth. 

Sec.  2.  The  Belleville  and  Illinoistown  Railroad  Company  shall 
have  full  power  and  authority  to  locate,  and  from  time  to  time,  to 
alter,  change,  re-locate,  construct,  re-construct,  and  fully  to  finish, 
perfect,  and  maintain  a  Railroad  with  one  or  more  tracks,  com¬ 
mencing  at  Belleville,  in  the  county  of  St.  Clair,  and  running  from 


p 


4 


thence  upon  a  route,  to  be  by  said  Company  selected,  to  Illinois- 
town,  and  to  take,  transport,  and  carry  property  and  persons  upon 
said  Railroad,  by  power  or  force  of  steam,  or  of  animals,  or  of  any 
other  power  or  other  combination  of  them  which  said  Company 
may  choose  to  use  or  apply,  and  for  the  purpose  of  constructing 
said  Railroad  or  way,  said  Company  shall  have  power  and  authority 
to  lay  out,  designate,  and  establish  their  said  road,  in  width  not 
exceeding  one  hundred  and  fifty  feet,  through  the  entire  line  there¬ 
of,  and  may  take  and  appropriate  to  their  own  use  all  such  lands 
so  designated  for  the  line  and  construction  of  said  road,  upon  first 
paying  or  tendering  thereof  such  amount  of  damages  as  shall  have 
been  settled  by  appraisal  in  the  manner  hereinafter  provided,  on 
all  such  lands  so  designated  for  the  line  and  construction  of  said 
road,  and  all  such  lands  as  may  be  taken,  or  upon  any  track  which 
may  be  located  by  said  Company,  and  for  the  purpose  of  embank¬ 
ments,  cuttings,  obtaining  of  stone,  gravel,  and  sand,  may  take 
and  appropriate  as  much  more  land  as  may  be  necessary  for  the 
proper  construction,  maintenance,  and  security  of  said  road,  and 
for  constructing  shops,  depots,  and  other  suitable,  proper,  and 
convenient  fixtures  in  connection  with  and  appurtenance  to  said 
Railroad,  may  take  and  have,  use  and  occupy  any  lands  upon 
either  side  of  said  Railroad  not  exceeding  two  hundred  feet  in 
depth  from  said  Railroad,  said  Company  taking  all  such  lands  by 
gift,  purchase  or  condemnation,  and  making  satisfaction  for  the 
same  as  hereinafter  provided  ;  Provided,  that  this  section  shall 
not  be  constructed  to  restrict  or  prevent  the  construction  of 
public  roads  or  Railroads  across  the  road  of  said  Company 
when  deemed  expedient,  but  not  so  as  to  materially  impair  or  ob¬ 
struct  the  same. 

Sec.  3.  The  said  Company,  and  under  their  direction^  their 
agents,  servants  and  workmen,  are  hereby  authorized  and  em¬ 
powered  to  enter  into  and  upon  the  lands  and  grounds  of,  or  be¬ 
longing  to  the  State  or  to  any  person  or  persons,  body  politic  or 
corporate,  and  survey  and  take  levels  of  the  same  or  any  part 
thereof,  and  to  set  out  and  ascertain  such  parts  as  they  shall  think 
necessary  and  proper  for  the  making  of  said  Railroad  with  one  or 
more  sets  of  tracks  or  rails,  and  for  all  the  purposes  connected 
with  said  Railroad  for  which  said  corporation,  by  the  last  preced- 


ing  section,  is  authorized  to  have,  take,  and  appropriate  any  land, 
and  to  fell  and  cut  down  all  timber  and  other  trees  standing  or 
being  within  one  hundred  feet  on  each  side  of  said  line  of  said 
Railroad,  the  damages  occasioned  by  the  felling  of  such  trees, 
unless  otherwise  settled,  to  be  assessed  and  paid  for  in  manner 
hereinafter  provided  for  assessing  and  paying  damages  for  lands 
taken  for  the  use  of  said  Railroad  Company  ;  also  from  time  to 
time  to  alter,  repair,  amend,  widen,  or  enlarge  the  same,  or  any 
of  the  conveniences  above  named,  as  well  for  conveying  goods,  com¬ 
modities,  timber  or  other  things  to  and  upon  the  said  Railroad,  as 
for  carrying  or  conveying  all  manner  of  materials  necessary  for  the 
making,  erecting,  furnishing,  altering,  repairing,  amending  or  en¬ 
larging  the  works  of  or  connected  with  the  said  road,  and  to  con¬ 
tract  and  agree  with  the  owner  or  owners  thereof  for  earth,  timber, 
gravel,  stone,  or  other  material,  or  any  article  whatever  which  may 
be  wanted  in  the  construction  or  repair  of  said  road  or  any  of  its 
appurtenances — the  said  Company  doing  as  little  damages  as 
possible  in  the  execution  of  said  power  hereby  granted,  and 
making  satisfaction  in  the  manner  hereinafter  mentioned  for 
all  damages  to  be  sustained  by  the  owners  or  occupiers  of 
said  land. 

Sec.  4.  The  said  Company  shall  have  power  to  take,  receive, 
and  hold  all  such  voluntary  grants  and  donations  of  land  and  real 
estate  for  the  purposes  of  said  road  as  may  or  shall  be  made  to 
said  Company  to  aid  in  the  construction,  maintenance  and  accom¬ 
modation  of  said  road,  and  said  Company  may  contract  and  agree 
with  the  owners  or  occupiers  of  any  land  upon  which  said  Com¬ 
pany  may  wish  to  construct  said  road  or  way,  or  which  said  Com¬ 
pany  may  wish  to  use  or  occupy  for  the  purpose  of  procuring  stone, 
sand,  gravel,  or  earth  or  other  materials  to  be  used  in  embank¬ 
ments  or  otherwise,  in  or  about  the  construction,  repairs  or  enjoy¬ 
ment  of  said  road,  or  which  said  Company  may  wish  to  use  or  oc¬ 
cupy  in  any  manner  or  for  any  purpose  or  purposes  connected  with 
said  road  which  said  Company  is  authorized  or  empowered  by  this 
-  act  to  have  or  appropriate  any  lands  and  to  take  and  receive  grants 
and  conveyances  of  any  and  all  interest  and  estates  therein  and 
to  them  and  their  successors  or  assigns  in  fee  or  otherwise,  and  in 
case  said  Company  cannot  agree  with  such  owner  or  owners  or  oc~ 


6 


cupiers  of  such  land  as  aforesaid,  so  as  to  procure  the  same  by 
the  voluntary  act  or  deed  of  such  owners  or  occupiers  of  such  lands 
as  aforesaid,  then  the  price  and  value  of  such  lands  may  be  fixed, 
estimated  and  recovered  in  the  manner  provided  for  taking  lands 
for  the  construction  of  public  roads,  canals,  or  other  public  works, 
as  prescribed  by  the  act  relating  to  rights  of  way,  approved  March 
3d,  1845.  But  when  the  owners  or  occupiers,  or  either  of  them 
of  such  lands,  shall  be  a  femme  covert,  infant,  non  compos  mentis, 
unknown  or  out  of  the  county  in  which  the  said  lands  or  property 
wanted  may  be  situated,  the  said  Company  shall  pay  the  amount 
that  shall  be  awarded  as  due  to  the  last  mentioned  owners  respec¬ 
tively,  whenever  the  same  shall  be  lawfully  demanded,  that  to  as¬ 
certain  the  amount  to  be  paid  as  above  to  said  owners  or  occupiers 
for  land  and  materials  taken  for  the  use  of  said  corporation,  it 
shall  be  the  duty  of  the  Governor  of  the  State  upon  notice  given  to 
him  by  the  said  corporation  to  appoint  three  commissioners,  to  be 
persons  not  interested  in  the  matter,  to  be  determined  by  them  to 
determine  the  amount  of  damages  which  the  owners  or  occupiers  of 
the  land  or  real  estate,  so  entered  upon  by  the  said  corporation,  has 
or  have  sustained  by  the  occupation  of  the  same  ;  and  it  shall  be 
the  duty  of  the  commissioners,  or  a  majority  of  them,  to  deliver 
to  said  corporation  a  written  statement  of  the  award  or  awards 
they  shall  make,  with  a  description  of  the  lands  or  real  estate  ap¬ 
praised,  to  be  recorded  by  the  said  corporation  in  the  Circuit 
Clerk’s  office  of  St.  Clair  County,  and  then  the  said  corporation 
shall  be  deemed  to  be  seized  and  entitled  to  the  fee  simple  of  all 
such  lands  and  real  estates,  and  shall  exercise  over  the  same  all 
rights,  privileges,  franchises  and  immunities  in  said  act  contem¬ 
plated  ;  Provided,  that  notice  by  publication  in  some  newspaper  in 
St.  Clair  County  shall  first  be  given  for  thirty  days  to  the  owners 
or  occupiers,  or  unknown  owners  as  the  case  may  be,  of  the  in¬ 
tention,  on  the  part  of  the  said  corporation,  to  apply  to  the  Gover¬ 
nor  for  the  appointment  of  commissioners  as  herein  provided  ;  And 
provided  further,  that  any  appeal  which  may  be  allowed  under  the 
provision  of  this  act  above  mentioned,  or  of  any  general  law  of 
this  State,  shall  not  affect  the  possession  by  said  Company  of  any 
of  the  lands  appraised  or  taken  under  this  act,  and  when  the  ap¬ 
peal  may  be  taken,  or  a  writ  of  error  prosecuted  by  any  person 
or  persons  other  than  the  said  Company,  the  same  shall  not  be  al- 


7 


lowed,  except  on  the  stipulation  of  the  party  so  appealing  or  prose¬ 
cuting  such  writ  of  error — that  the  said  Company  may  enter  upon 
and  use  the  land  described  in  the  petition  or  required  by  said 
Company  for  the  use  and  purposes  of  the  said  road,  upon  said 
Company  giving  bond  and  security  to  be  approved  by  the  Clerk  of 
the  Circuit  Court  of  the  County  of  St.  Clair,  that  they  will  pa}'  to 
the  party  appealing  or  prosecuting  such  writ  of  error  ail  costs  and 
damages  that  may  be  awarded  against  them  on  the  final  hearing 
of  such  appeal  or  writ  of  error,  within  thirty  days  after  the  rendi¬ 
tion  of  the  same,  or  forfeit  all  rights  to  use  the  lands  or  the  way 
so  condemned. 

Sec.  5.  The  capital  stock  of  such  Company,  shall  be  one  hun¬ 
dred  thousand  dollars,  which  may  be  increased  from  time  to  time, 
by  a  vote  of  a  majority  in  interest  of  the  Stockholders  at  their  an¬ 
nual  meeting,  or  at  any  special  meeting  which  may  be  called  for 
that  purpose  by  the  Directors  of  said  Company,  to  any  sum  not 
exceeding  the  entire  amount  expended  on  account  of  said  road, 
which  stock  shall  be  divided  into  shares  of  fifty  dollars  each,  which 
shall  be  deemed  personal  property  and  which  may  be  issued,  cer¬ 
tified  and  registered  and  transferred,  in  such  manner,  and  at  such 
places  as  may  be  ordered  and  provided  by  the  Board  of  Directors, 
who  shall  have  power  to  require  the  payment  of  stock  subscribed 
in  the  manner  and  at  the  time  and  in  such  sums  as  they  may  direct, 
and  on  the  refusal  or  neglect  on  the  part  of  stockholders  or  any  of 
them,  to  make  payment  on  requisition  of  the  Board  of  Directors, 
the  shares  of  such  delinquents  may,  after  thirty  days  public  notice, 
be  sold  at  auction,  under  such  rules  as  the  directors  may  adopt ;  the 
surplus  money,  if  any  remains  after  deducting  the  payment  due 
with  the  interest  and  necessary  cost  of  sale,  to  be  paid  to  the  de¬ 
linquent  stockholder.  The  Board  of  Directors,  hereinafter  named 
and  appointed,  shall  cause  books  to  be  opened  for  subscription  to 
the  capital  stock  of  said  Company  at  such  times  and  places  and  in 
such  manner  as  they  shall  direct ;  Provided,  that  as  soon  as  fifty 
thousand  dollars  of  bonafide  subscription  to  said  capital  stock  shall 
be  made  at  five  per  cent,  thereon  paid  in,  it  shall  be  lawful  for  said 
Company  to  commence  the  construction  of  said  road. 

Sec.  6.  All  the  corporate  powers  of  said  Company  shall  be  vest- 


8 


ted  in,  and  exercised  by  a  Board  of  Directors,  to  consist  of  not  less 
than  seven  nor  more  than  seventeen  in  number,  and  such  other  offi¬ 
cers,  agents  and  servants,  as  they  shall  appoint.  The  first  Board 
of  Directors  shall  consist  of  Edward  Abend,  Asbury  Harrison, 
Russell  Hinckley,  Frederick  Von  Schrader,  Samuel  B.  Chandler, 
Edward  Tittmann,  Joseph  Kirkpatrick,  James  Mitchell,  Charles 
Chouteau,  Alexander  Kayser,  Jacob  Knoeble,  Conrad  Bornman, 
Francis  Stoltz,  and  James  L.  D.  Morrison,  who  shall  hold  their 
offices  until  their  successors  are  elected  and  qualified.  Vacancies 
in  the  board  may  be  filled  by  vote  of  two-thirds  of  the  directors  re¬ 
maining,  such  appointees  to  continue  in  office  until  the  next  regular 
annual  election  of  directors  is  held  ;  and  which  said  annual  election 
of  directors  shall  be  held  on  the  first  Monday  in  June  in  each  year, 
at  the  office  of  the  Company,  thirty  days  notice  being  given  in  a 
newspaper  published  at  Belleville  and  St.  Louis. 

Sec.  7.  At  any  election  held  for  the  election  of  Directors,  each 
share  of  stock  shall  be  entitled  to  one  vote  to  be  given  either  in  per¬ 
son  or  by  proxy,  and  the  persons  receiving  the  largest  number  of 
votes  to  be  declared  duly  elected,  and  to  hold  their  office  until  the 
next  annual  election,  and  until  their  successors  in  office  are  elected 
and  qualified.  All  elections  to  be  conducted  by  three  Judges  to  be 
selected  by  the  stockholders  present. 

Sec.  8.  The  office  of  said  Company  shall  be  located  in  the  city 
of  Belleville,  and  the  Directors  herein  named  are  required  to  or¬ 
ganize  the  Board  by  electing  one  of  their  number  President,  and  by 
appointing  a  Secretary  and  Treasurer. 

Sec.  9.  Said  Company  shall  have  power  to  purchase  with  the 
funds  of  the  Company,  and  contract  for  and  place  on  the  Railroad 
hereby  authorized  to  be  constructed,  all  machines,  wagons,  car¬ 
riages  and  vehicles,  of  any  description  which  they  may  deem  ne¬ 
cessary  and  proper  for  the  purpose  of  transportation  on  said  Rail* 
road,  and  they  shall  have  power  to  charge  for  tolls  and  transporta¬ 
tion  and  rates  of  fare,  such  sums  as  shall  be  lawfully  established 
by  the  by-laws  of  said  Company :  not  to  exceed,  however,  on  the 
article  of  Bituminous  Coal  thirty-five  cents  a  ton  from  Belleville  to 
Illinoistown. 


9 


Sec.  10.  The  said  Company  hereby  chartered  shall  be  required 
to  keep  and  use  a  sufficient  number  of  locomotives,  passenger  and 
freight  cars  and  the  other  conveniences  properly  pertaining  to  a 
Railroad  to  carry  and  transport  all  the  passengers  and  freight 
requiring  transportation  upon  the  said  road,  and  shall  transport 
the  same,  and  shall  have  the  power  to  make,  ordain  and  establish 
all  such  by-laws,  rules  and  regulations,  as  may  be  deemed  expe¬ 
dient  and  necessary  to  fulfil  the  purposes  and  carry  into  effect  the 
provisions  of  this  act,  for  the  well  ordering  and  securing  the  af¬ 
fairs,  business  and  interest  of  said  Company  not  incompatible 
with  the  constitution  and  laws  of  this  State. 

Sec.  11.  The  said  Board  of  Directors  shall  have  power  to  regu¬ 
late  the  manner  of  transportation  of  persons  and  property,  the 
width  of  the  track,  the  construction  of  wheels,  the  form  and  size 
of  cars,  the  weight  of  loads ;  and  all  other  matters  and  things 
respecting  the  use  of  said  road,  and  the  conveyance  and  trans¬ 
portation  of  persons  and  property  thereon. 

Sec.  12.  Whenever  it  shall  be  necessary  for  the  construction 
of  said  Railroad  to  intersect  or  cross  a  track  of  any  other  Rail¬ 
road,  or  any  stream  of  water,  water  course,  road,  or  highway, 
lying  on  the  route  of  said  road,  it  shall  be  lawful  for  the  Company 
to  construct  their  railroad  across  or  upon  the  same  ;  Provided, 
that  the  said  Company  shall  restore  the  Railroad  stream,  or  water 
course,  road  or  highway  thus  intersected  or  crossed,  to  its  former 
state  or  in  a  sufficient  manner  not  materially  to  impair  its  useful¬ 
ness. 

Sec.  13.  The  said  Company  shall  annually,  or  semi-annually, 
make  such  dividends  as  they  may  deem  proper  of  the  net  profits, 
receipts,  or  incomes  of  said  Company,  among  the  stockholders 
therein,  in  proper  proportion  to  their  respective  shares. 

Sec.  14.  The  said  Company  shall  have  power  and  are  hereby 
authorized  to  receive,  take  hold,  and  again  alienate  any  amount 
of  land  not  to  exceed  twelve  hundred  acres  at  any  one  time,  and 
to  mine  and  work  the  coal  beds  therein,  and  to  transport  the  coal 
mined  therefrom,  and  to  this  end  may  contract  with  any  other 
2 


10 


Railroad  company  for  the  lease  or  purchase  of  their  tracks,  rights, 
ways,  privileges,  franchises,  coal  fields,  engines,  machinery,  lands, 
and  other  property,  paying  therefor  money,  bonds,  or  stock  in  the 
said  Railroad  Company  hereby  chartered,  and  may  make,  have, 
use  and  maintain  any  and  all  branch  roads  by  the  said  Company 
deemed  necessary  in  transacting  their  business ;  condemning  all 
lands  and  ways  therefor  as  herein  above  provided  :  the  said  Com¬ 
pany  is  also  empowered  to  lease  or  purchase  of  the  county  of  St. 
Clair  all  the  ferry  right  and  franchises  which  said  county  now  has 
for  a  ferry  across  the  Mississippi  river,  opposite  St.  Louis,  or  such 
an  interest  therein  as  the  said  county  may,  by  an  order  of  the 
County  Court  entered  upon  their  records,  agree  to  sell  or  lease  to 
the  said  Company,  and  to  be  paid  for  by  said  Company  in  money, 
bonds,  or  stock  of  said  Company,  as  the  same  may  be  agreed 
upon,  and  the  said  County  Court  are  hereby  authorized  so  to  sell 
or  lease  the  said  ferry  for  any  period  they  may  agree  upon  with 
said  Company. 

Sec.  15.  The  said  Company  may  accept  subscriptions  to  the 
stock  of  said  road  from  the  city  of  Belleville  and  the  county  of 
St.  Clair,  or  either  of  them,  to  any  amount  not  to  exceed  twenty- 
five  thousand  dollars  each,  and  for  the  purpose  of  raising  the 
amount  so  to  be  by  them  subscribed,  the  said  city  of  Belville,  by 
her  corporate  authorities,  and  the  said  county  of  St.  Clair,  are 
hereby  authorized  and  empowered  to  borrow  any  sum  not  exceed¬ 
ing  twenty-five  thousand  dollars  each,  payable  at  such  times  and 
places,  and  in  such  sums,  and  with  such  rate  of  interest  as  may 
be  agreed  upon,  and  may  issue  their  city  and  county  bonds  there¬ 
for,  under  their  respective  seals. 

Sec.  16.  If  any  person  shall  do,  or  cause  to  be  done,  or  aid  in 
doing,  or  causing  to  be  done  any  act  or  acts  whatever,  whereby 
any  building,  or  construction,  or  work  of  said  Company,  or  any 
machine  or  structure,  or  any  matter  or  thing  appertaining  to  the 
same  shall  be  stopped,  obstructed,  impaired  or  weakened,  injured 
or  destroyed,  the  person  or  persons  so  offending,  shall  be  guilty  of 
a  misdemeanor,  and  may  be  punished,  upon  conviction,  by  fine,  in 
any  sum  not  exceeding  five  hundred  dollars,  or  by  imprisonment, 
not  exceeding  five  years,  or  by  both,  at  the  discretion  of  the  Court, 


11 


and  shall  forfeit  and  pay  to  the  said  corporation  treble  the  amount 
of  damages  sustained  by  reason  of  such  offence  or  injury,  to  be 
recovered  in  the  name  of  the  said  Company,  with  cost  of  suit,  in 
an  action  of  trespass,  before  any  Justice  of  this  State,  or  before 
any  court  having  jurisdiction  thereof. 

Sec.  IT.  Said  Company  shall  have  the  power  to  extend  to,  and 
unite  its  Railroad  with  any  other  Railroad  now  constructed,  or 
which  may  hereafter  be  constructed  in  this  State,  and  for  that  pur¬ 
pose  full  power  is  hereby  given  to  said  Company  to  make  and  exe¬ 
cute  such  contract  with  any  other  Company  as  will  secure  the 
objects  of  such  construction. 

Sec.  18.  Said  Company  is  hereby  authorized  from  time  to  time 
to  borrow  such  sum  or  sums  of  money,  as  may  be  necessary  for 
completing  and  finishing  or  operating  their  said  Railroad,  and  to 
issue  and  dispose  of  their  bonds  in  denominations  of  not  less  than 
five  hundred  dollars,  for  any  amount  so  borrowed,  and  to  mort¬ 
gage  their  corporate  property  and  franchises,  or  convey  the 
same  by  deed  of  trust  to  secure  the  payment  of  any  debt  contracted 
by  said  Company  for  the  purpose  aforesaid,  and  the  directors  of 
said  Company  may  confer  on  any  bond-holder  of  any  bond  issued 
for  money  borrowed  as  aforesaid,  the  right  to  convert  the  principle 
due  or  owing  therein  into  stock  of  said  Company  at  any  time  not 
exceeding  ten  years  from  the  date  of  the  bond  under  such  regula¬ 
tions  as  the  directors  of  said  Company  may  see  fit  to  adopt,  and 
all  sales  of  bonds  for  less  than  their  par  value  shall  be  good  and 
valid,  and  as  binding  upon  said  corporation  as  if  the  same  were 
sold  for  the  full  amount  thereof. 

Sec.  19.  The  said  Company  hereby  chartered  shall  be  required 
to  construct  and  operate  their  said  road  according  to  the  terms  of 
this  charter  within  five  years  from  the  passage  of  this  act,  which 
shall  be  taken  and  received  as  a  public  law  in  all  courts  and  places 
whatever. 

Sidney  Breese, 

Speaker  of  the  House  of  Representatives. 

William  McMurtry, 

Speaker  of  the  Senate. 

Approved  June  21,  1852. 

Augustus  C.  French, 


/ 


12 

United  States  of  America,  ) 

State  of  Illinois,  ) 

I,  David  L.  Gregg,  Secretary  of  State  of  the  said  State  of  Illi¬ 
nois,  do  hereby  certify  that  the  foregoing  is  a  true  copy  of  the  en¬ 
rolled  law  now  on  file  in  my  office. 

In  testimony  whereof,  I  have  hereunto  set  my  hand 
[l.  s.J  and  affixed  the  great  seal  of  State,  at  Springfield,  this 
22d  day  of  June,  A.  D.  1852. 

D.  L.  Gregg, 
Secretary  of  State. 


BELLEVILLE  AND  ILLINOISTOWN  RAILROAD 


Section  1st.  The  Directors  shall  meet,  until  otherwise  ordered, 
at  the  rooms  of  John  Winter,  in  the  city  of  Belleville,  which  shall 
be  the  place  of  meeting  of  the  Stockholders  for  the  election  of 
Directors  and  other  purposes. 

Sec.  2.  The  regular  or  stated  meetings  of  the  Board  of  Direc¬ 
tors  shall  be  held  on  the  first  Wednesday  of  each  month,  at  nine 
o’clock,  a.  m.  Special  meetings  may  be  called  by  the  President, 
or  by  any  two  of  the  Directors,  by  giving  notice  to  the  Directors 
resident  in  the  County  of  St.  Clair,  the  notice  to  be  served  per¬ 
sonally,  or  sent  to  the  place  of  business  or  dwelling  of  the  mem¬ 
bers  ;  except  in  cases  when  the  business  of  such  meeting  shall 
effect  the  location  or  construction  of  the  road,  when  reasonable 
notice  shall  be  given  by  mail  to  each  member  of  the  Board  living 
without  the  county  of  St.  Clair  ;  and  the  Board  shall  also  meet  on 
their  own  adjournment. 

Sec.  3.  Six  Directors  shall  constitute  a  quorum,  and  shall  be 
competent  to  transact  business,  except  in  cases  where  the  construc¬ 
tion  or  location  of  the  road  is  involved,  when  it  shall  require  nine 
to  form  a  quorum.  In  case  of  the  absence  or  inability  of  the 
President,  the  Board  may  elect  a  President  pro  tern  ;  who  shall 
perform  all  the  duties  of  the  office  during  the  absence  or  inability 
of  said  President. 

Sec.  4.  It  shall  be  the  duty  of  the  President  to  preside  at  all 
meetings  of  the  Board  ;  to  see  that  good  order  is  preserved ;  to 
appoint  all  committees,  unless  otherwise  ordered  by  the  Board,  and 


14 


to  have  a  general  superintendence  of  the  whole  business  of  the 
Company  ;  to  carry  into  effect  all  such  orders  as  the  Board  may 
direct,  and  to  submit  for  the  consideration  of  the  Board,  at  the 
regular  meetings,  such  subjects  as,  in  his  judgment,  will  promote 
the  interests  of  the  Company.  The  President  shall  ex-officio,  be 
a  member  of  all  committees,  whether  standing  or  special,  except 
in  matters  involving  the  interest  of  the  President. 

Sec.  5.  It  shall  be  the  duty  of  the  Treasurer  to  receive  all 
monies  due  the  Company  ;  receipt  therefor,  and  disburse  them  as 
ordered  by  the  Board  of  Directors.  To  keep  regular  books  and 
accounts  of  all  receipts  and  disbursements  made  by  him ;  giving 
bond  and  security,  approved  by  the  Board,  for  the  faithful  per¬ 
formance  of  his  duties.  His  books  and  accounts  shall  be  at  all 
times  subject  to  the  examination  of  the  Board  of  Directors,  or  any 
member  thereof. 

Sec.  6.  It  shall  be  the  duty  of  the  Secretary  to  keep  a  fair  and 
accurate  record  of  the  proceedings  of  the  Board,  and  to  record  all 
proceedings  of  the  Stockholders ;  issue  and  countersign  all  orders 
and  warrants  of  the  Board,  drawn  by  the  President  on  the  Trea¬ 
surer,  and  to  perform  such  other  duties  as  the  Board  may,  from 
time  to  time,  direct. 

Sec.  7.  All  appointments  of  officers  of  the  Company  shall  be  by 
ballot,  and  any  member  may  require  the  yeas  and  nays  upon  any 
question  before  the  Board. 

Sec.  8.  There  shall  be  appointed  the  following  standing  com 
mittees,  to  consist  of  three  members  each,  exclusive  of  the  Presi¬ 
dent,  (except  the  Executive  and  Finance  Committees,  which  shall 
consist  ef  four  members,)  viz.  : 

1st.  A  general  Executive  and  Finance  Committee. 

2nd.  A  committee  on  Location  and  Right  of  Way. 

3rd.  A  committee  on  Construction. 

4th,  A  committee  on  Accounts. 


15 


All  business  coming  before  the  Board  for  its  action,  proper  to  be 
referred,  shall  be  submitted  to  the  proper  standing  committee,  as 
indicated  by  its  title. 

The  Executive  Committee  shall  have  power  to  contract  in  inci¬ 
dental  matters,  and  act  in  cases  of  emergency,  when  the  Board 
cannot  be  conveniently  convened,  and  shall  aid  the  President  in  a  f  / 
general  supervision  of  the  affairs  of  the  Company. 

The  Committee  on  Accounts  shall  examine  and  pass  upon  all 
estimates,  accounts,  or  claims  for  money  upon  the  Company ;  pro¬ 
vided,  that  whenever  a  claim  arises  under  the  articles  of  agree¬ 
ment  with  contractors  and  others,  it  shall  be  lawful  for  the  Trea¬ 
sures  to  adjust  the  same,  on  the  certificate  of  the  Engineer,  for  the 
time  being,  he  taking  proper  vouchers  therefore,  and  not  other¬ 
wise. 

Sec.  9.  The  journal  of  the  last  previous  meeting  shall  be  read 
at  the  opening  of  each  meeting  of  the  Board.  No  motion  shall  be 
acted  upon  untill  the  same  shall  be  seconded,  and  any  Director  offer¬ 
ing  a  motion,  shall,  if  requested  by  the  President  or  any  Director, 
reduce  the  same  to  writing. 

Sec.  10.  The  capital  stock  of  the  Company  shall  be  registered 
in  a  book  kept  by  the  Secretary,  and  shall  be  transferable  only  on 
the  books  of  the  Company,  and  then  only  by  leave  of  the  Board  of 
Directors. 

Sec.  11.  The  Board  may  elect  a  counsellor,  and  fix  his  com¬ 
pensation,  who  shall  perform  such  professional  duties  as  may  be 
required  of  him. 

Sec.  12.  No  amendments  or  alterations  of  the  By-Laws  shall  be 
made,  unless  said  amendments  or  alteratiuns  shall  have  been  re- 
'  duced  to  writing,  and  in  substance,  submitted  to  the  Board  at  a 
previous  meeting. 


i 


REPORT. 


The  Charter  of  The  Belleville  and  Illinoistown  Railroad 
Company  was  passed  by  the  Legislature  of  the  State  of  Illinois,  at 
its  June  term,  1852,  and  became  a  law  upon  the  23d  day  of  Au¬ 
gust  following,  on  which  day  the  entire  stock  was  subscribed  and 
a  contract  executed  with  reliable  parties  for  the  construction  and 
equipment  of  the  entire  line. 

This  fact  will  attract  attention  to  the  valuable  franchises  con¬ 
ferred  by  the  Legislature  upon  this  Company,  and  invite  an  exa¬ 
mination  of  its  claims  upon  the  public  confidence,  and  the  certain 
assurance  it  presents  of  being  a  remunerating  road. 

Before  entering  upon  an  examination  of  the  great  advantages 
possessed  by  this  road,  it  may  be  well  to  state  its  present  condi¬ 
tion.  The  main  road  is  fourteen  miles  in  length,  commencing  at 
the  city  of  Belleville,  south-east  from  St.  Louis,  and  terminating 
opposite  that  city.  Active  operations,  under  the  contract  for  its 
construction,  were  commenced  in  the  early  part  of  September  last, 
and  up  to  the  first  of  March  more  than  ninety  thousand  dollars 
have  been  expended  upon  the  right  of  way,  grading  and  masonry 
of  the  road.  By  the  first  day  of  June  next  the  entire  line  will  be 
ready  for  the  superstructure  and  rails,  at  a  cost  expended  of  one 
hundred  and  seventy-five  thousand  dollars,  which  sum  will  have  been 
advanced  entirely  by  the  stockholders  :  thus  it  will  be  seen  that  the 
parties  presenting  the  securities  of  this  road  for  negotiation,  have  not 
been  unwilling  to  invest  their  own  means  in  an  enterprise  for  which 
they  ask  the  favorable  notice  of  capital. 

The  question  may  very  naturally  be  asked,  how  a  road  of  such 
length  is  expected  to  pay  ?  and  what  superior  advantages  are  pos¬ 
sessed  by  this  line  over  other  short  roads,  which  are  generally  non¬ 
paying?  An  examination  of  the  14th  and  17th  sections  of  the 


17 


charter  will  show  that  the  Company  have  a  right  to  build  u  all 
branch  roads  by  them  deemed  needful  and  necessary,”  and  to 
extend  to  and  unite  their  road  with  any  road  now  constructed  or 
which  may  hereafter  be  constructed  in  Illinois,”  the  advantages  of 
which  powers  need  not  now  be  exhibited  beyond  their  exercise  as 
actually  determined  upon  by  the  Company. 

In  February  last,  the  Board  of  Directors  determined  to  extend 
their  road  from  Illinoistown,  opposite  the  city  of  St.  Louis,  to 
Alton,  and  contracted  for  the  building  and  equipment  of  this  ex¬ 
tension,  a  distance  of  twenty-four  miles  and  a  quarter,  as  shown 
by  the  survey.  Engineers  of  the  Company  have  been  locating  this 
line  for  a  month  past,  and  have  found  a  very  eligible  route,  upon 
which  the  right  of  way  is  now  being  secured, — so  that  this  exten¬ 
sion  gives  us  a  line  of  road  thirty-eight  miles  and  a  quarter  in 
length,  which  is,  by  the  contracts,  to  be  built  and  provided  with 
locomotives,  running  stock,  and  the  necessary  cars,  equal  in  all 
respects,  in  quality  of  road  and  equipments,  to  the  Ohio  and  Mis¬ 
sissippi  road. 

It  is  proposed  to  consider  the  claims  of  this  road  from  two  points 
of  view  :  First  the  main  road  from  Belleville  to  Illinoistown. 

The  city  of  Belleville,  fourteen  miles  south-east  of  St.  Louis, 
contains  about  six  thousand  inhabitants,  a  majority  of  whom  are 
Germans,  closely  identified  in  feelings,  early  association  and  social 
relations,  with  the  large  German  population  of  the  city  of  St. 
Louis,  so  that  a  constant  business  and  social  intercourse  is  taking- 
place  between  the  two  points.  It  is  situate  about  the  centre  of  the 
rich  county  of  St.  Clair,  and  is  growing  more  rapidly  in  population 
and  manufacturing  than  any  place  in  the  State,  Chicago  excepted. 
Its  healthy  site  and  the  inexhaustible  fields  of  bituminous  coal 
which  underlay  the  city  and  its  immediate  neighborhood,  have  re¬ 
cently  attracted  great  attention  and  has  built  up  quite  a  manufac¬ 
turing  interest,  which  is  capable  of  great  increase  when  the  facili¬ 
ties  for  reaching  St.  Louis  by  railroad  are  provided.  There  is  at 
present  a  fine  turnpike  road  leading  to  St.  Louis,  built  at  a  cost 
of  one  hundred  and  thirty  thousand  dollars,  and  although  the  ex¬ 
pense  of  keeping  it  in  repair  is  enormous  and  the  tolls  low,  the 
dividends  upon  the  stock  for  the  six  months  ending  in  January 
last  was  six  per  cent.,  besides  carrying  a  handsome  amount  to  the 
contingent  fund.  The  city  of  St.  Louis,  with  its  growing  popula- 

3 


18 


tion  now  reaching  ninety-eight  thousand,  is  almost  exclusively 
supplied  with  marketing  from  the  Illinois  side  of  the  river  ;  and, 
from  the  location  of  Belleville,  with  its  State  roads  radiating  in 
every  direction  through  the  south  and  south-eastern  portion  of  the 
State,  the  beef,  pork  and  other  marketing  of  at  least  100,000  pro¬ 
ducers  going  to  St.  Louis  for  consumption,  passes  through  its 
streets :  this  item  alone  will  yield  a  considerable  revenue,  and  is 
constantly  on  the  increase. 

The  intercourse  between  the  two  cities  is  now  carried  on  by 
omnibuses,  such  as  are  used  in  Broadway,  New  York  with  the  addi¬ 
tion  of  seats  upon  the  top,  and  carrying  from  twenty  to  twenty-five 
passengers  each,  eight  of  which  make  their  daily  trips  between  the 
two  places,  and  are  crowded  to  their  utmost  capacity,  so  as  fre¬ 
quently  to  require  u  extras,”  besides  the  four  horse  mail-coach, 
which  is  generally  full  also. 

More  than  one  hundred  passengers  a  day  are  now  carried  be¬ 
tween  Belleville  and  St.  Louis  at  a  cost  of  fifty  cents  each,  and  as 
many  more  go  over  the  road  in  their  own  conveyances  and  on  horse¬ 
back,  who  will  use  the  cars  when  running.  The  convenience  of  a 
quick,  comfortable,  and  cheap  transit  afforded  by  rails,  will,  no 
doubt,  greatly  increase  the  number  of  passengers,  besides  inviting 
many  business  men  of  St.  Louis  to  a  country  residence.  Estima¬ 
ting  the  number  of  passengers  per  day,  at  one  hundred  each  way, 
at  the  present  rates  of  charge,  you  have  a  passenger  revenue  of 
$36,500. 

The  city  of  Belleville  has  now  in  operation  two  large  merchant 
flouring  mills,  three  distilleries,  four  breweries,  manufacturing 
about  6,000  barrels  of  ale  and  beer  annually.  One  of  the  mills, 
that  of  T.  Harrison  &,  Co.,  has  the  capacity  to  turn  out  200  bar¬ 
rels  of  flour  daily ;  the  other  about  one  hundred  and  fifty —  making 
three  hundred  and  fifty  barrels  daily ;  the  domestic  consumption 
of  flour  is  supplied  by  the  mills  in  the  immediate  neighborhood  of 
Belleville  to  a  great  extent;  so  that  it  may  be  fair  to  estimate  that 
at  least  300  barrels  daily,  will  be  transported  over  this  road  to  St. 
Louis.  Equal  to  1800  weekly  or  more  than  90,000  barrels  per 
annum,  the  cost  of  carriage,  of  which  is  now  embracing  turnpike 
tolls,  25  cents  per  barrel,  or  $22,500  yearly. 

The  three  distilleries  manufacture  about  80  barrels  of  whiskey 
daily,  sixty  of  which  now  go  over  the  road  to  St.  Louis.  Equal  in 


19 


the  year  to  18,720  brrrels,  the  transportation  of  which  now  costs 
forty  cents,  or  $7,488  annually. 

Besides  the  staples  above  alluded  to  the  tonnage  in  other  mcn- 
chandize  and  traflc  is  quite  large. 

The  following  table  will  present  some  of  the  leading  articles  of 
freight  now  passing  over  the  turnpike  road,  which  will  be  entirely 
transferred  to  the  railroad  when  completed  : 


150,000  staves,  annually  weighing .  187  tons. 

Corn,  oats,  castor  beans,  castor  oil,  and  wheat, 
the  latter  article  hauled  out  from  St.  Louis  in 

large  quantities  for  manufacturing .  7,000  “ 

Hogs,  cattle,  sheep,  &c .  1,625 

Drygoods . . .  2,280 

Lumber,  now . 1 .  1,500 

Sundries,  not  enumeration . .  1,000 


Making  an  aggregate  of  13,592  tons,  which,  at  4  cents  per  ton 
a  mile,  less  than  one-forth  the  present  charges,  will  yield  annually 
$7,621  52. 

The  above  are  not  estimated  figures,  but  the  results  of  a  careful 
enquiry  and  examination  of  the  best  informed  business  men  of 
Belleville,  made  six  months  since,  with  an  eye  to  contracting  for 
the  construction  of  this  road.  The  above  statements,  which  are 
believed  to  be  below  the  actual  business  now  done  over  the  turn¬ 
pike  road,  shows  a  revenue  annually  of  $74,109  52,  from  the  regu¬ 
lar  business  now  being  done  between  the  cities  of  St.  Louis  and 
Belleville,  at  the  rates  now  charged.  There  can  be  no  doubt  but 
that  the  completion  of  this  road  will  soon  add  fifty  per  cent,  to  the 
business  now  done,  but  say  25  per  cent.,  and  the  revenues  of  the 
road  will  reach  $90,000  per  annum. 

But  the  elements  of  profit  in  this  part  of  the  road  are  to  be 
found  in  its  coal  mining  advantages,  and  the  ferry  franchise  which 
will  be  treated  of  seperately. 


20 


COAL  TRADE  AND  BUSINESS. 

The  city  of  St.  Louis  is  now  a  large  manufacturing  point,  and 
is  rapidly  increasing,  both  in  manufactures  and  in  numbers  ;  from 
the  mosttreliable  sources  of  information,  there  was  consumed  in  St. 
Louis,  in  the  year  1852,  6,000,000  bushels  of  coal,  equal  to 
250,000  tons  in  weight.  This  consumption  will  be  greatly  increased 
when  the  supply  is  provided  to  enable  the  steamboats  plying  upon 
the  Mississippi  and  its  tributaries,  to  rely  upon  it  with  certainty. 
There  were  two  thousand  seven  hundred  steam  boat  departures 
from  St.  Louis,  during  the  year  1852,  very  few  of  which  boats 
were  provided  with  the  necessary  conveniences  for  burning  coal. 
This  coal  is  supplied  from  both  sides  of  the  river,  about  40,000 
tons,  coming  from  the  Missouri  side,  which  is  of  a  quality  inferior 
to  that  on  the  Illinois  side,  deposited  in  a  stratum  of  four  feet 
thickness,  against  seven  feet  on  the  east  side  of  the  river,  which 
having  to  be  hauled  by  waggons  to  the  market,  about  the  same  dis¬ 
tance  which  we  would  transport  it  by  rails,  can  hardly  be  con¬ 
sidered  as  competing  with  the  east  side  of  the  river. 

The  14th  Section  of  our  act  of  incorporation,  authorizes  the 
holding  1,200  acres  of  coal  land,  this  was  attended  to  at  an  early 
day,  and  the  company  secured  ten  hundred  and  forty  acres  of 
coal  lands,  seven  miles  from  St.  Louis,  which  embraces  the  finest 
coal  banks  ever  worked  in  the  vicinity  of  St.  Louis,  and  their  road 
runs  about  midway  through  the  field  of  coal  which  is  above  the 
summit  level  of  their  grade,  so  that  all  the  coal  mined  by  the  Com¬ 
pany  and  carried  to  market,  will  be  upon  the  descending  grade  of 
their  road.  Assume  that  the  Belleville  road  will  carry  one  half 
the  coal  furnished  from  the  east  side  of  the  river,  and  that  the  cer¬ 
tainty  of  supply  will  not  increase  consumption,  and  you  have  a 
transportation  of  128,500  tons  of  coal  annually  over  the  road ;  as¬ 
sume  that  fifty  thousand  tons  is  sent  from  Belleville,  at  35  cents 
per  ton  carriage,  producing  a  revenue  of  $1,750,  and  that  78,000 
tons  are  mined  and  transported  by  the  Company  on  their  road. 
The  coal  mining  experience  in  St.  Clair  County,  has  demonstrated 
that  the  coal  can  be  mined  from  the  Companys  banks,  and  put  into 
the  car  for  3  cents  per  bushel,  or  84  cents  per  ton.  It  can  be 
carried  to  the  vein,  a  distance  of  seven  miles  down  grade,  for  two 
cents  per  mile  a  ton,  or  14  cents  from  the  mines.  It  can  be  crossed 


21 


the  river  and  delivered  to  consumers  for  40  cents  per  ton,  Company 
using  their  own  ferry  boats,,  as  herinafter  to  be  shown;  making 
total  cost  at  place  of  delivery,  of  $1  38  cents  per  ton.  Coal  varies 
in  price  in  St.  Louis,  from  15  cents  per  bushel,!  to  eight  cents, 
which  is  the  very  lowest  figure  it  ever  reaches  ;  fixing  the  price  at 
9  cents,  you  have  $2  52  cents  per  ton,  against  1  38  cost,  and  a 
nett  profit  to  the  Company,  at  the  low  price  fixed  of  about  $88,000. 

This  revenue  from  coal  looks  large,  but  any  business  man  of  St. 
Louis,  knowing  the  demand  and  its  constant  increase,  will  at  once 
decide  that  the  figures  here  are  low. 

In  addition  to  the  sources  of  revenue  above  enumerated,  the 
Company  owTns  a  ferry  right  across  and  landing  upon  the  Missis¬ 
sippi  river,  opposite  St.  Louis,  at  the  terminus  of  their  road,  and 
that  of  the  Ohio  and  Mississippi  Road ;  this  ferry  franchise  was 
purchased  of  the  county  of  St.  Clair  under  the  14th  section  of  their 
charter,  and  has,  as  well  as  the  Company’s  coal  lands,  been  fully 
paid  for.  There  is  but  one  other  ferry  at  this  place,  so  that  the 
two  must  do  all  the  ordinary  crossing  and  railroad  business  at  this 
point,  which  will  be  immense.  It  is  estimated  by  the  most  compe¬ 
tent  judges  that  the  Company  will  derive  a  nett  revenue  of  30  per 
cent,  upon  the  amount  already  expended  in  its  purchase,  and  to  be 
expended  in  boats,  platforms,  &c.,  and  for  the  use  of  the  same. 


Cost  of  Ferry .  $18,000 

Boats,  platforms,  &c .  30,000 


$48,000 

30  per  cent,  upon  which  sum  is  $14,400. 


So  that  the  ordinary  receipts  may  be  recapitulated  as  follows  : 


Passengers,  at  50  cents  each .  $36,500 

Flour,  90,000  barrels . . .  22,500 

Whiskey,  18,720  barrels .  7,488 

Freights  or  other  tonnage . 7,621 

Belleville  Coal .  1,750 

Mails,  double  the  present  amount  allowed  stage .  2,728 


$78,587 


22 


Deduct  50  per  cent,  cost  and  expense  of  running,  and  you  have, 
without  any  increase  of  trade,  a  revenue  from  ordinary  sources 


of . .  $39,243 

To  which  add  nett  profits  on  Coal .  88,000 

“  same  on  Ferry .  14,400 


Amounting  in  the  aggregate  to .  $141,643 


being  22  per  cent,  upon  the  entire  amount  proposed  to  be  borrowed 
by  the  Company. 

The  estimates  of  ordinary  revenue,  which,  it  is  believed,  will  fall 
below  the  actual  receipts,  is  based  upon  the  present  rates  of  trans¬ 
portation  by  teams  and  fare  for  passengers.  It  may  be  reduced  30 
per  cent,  upon  the  staples  of  flour  and  whiskey,  which  would  reduce 
the  receipts  about  $10,000  ;  a  like  reduction  might  be  made  upon 
the  fare  of  passengers  without  affecting  the  receipts,  other  than  to 
increase  their  aggregate,  as  no  allowance  is  made  for  the  increase 
of  passengers  by  the  greater  facilities  of  transportation  afforded  by 
railroad. 

The  rate  of  tonnage  per  mile  is  fixed  in  the  estimates  at  4  cents 
or  fifty-six  cents  the  entire  distance,  whilst  the  rates  of  transpor¬ 
tation  now,  by  large  wagons  carrying  from  2  to  4  tons  each,  is 
twelve  and  a  half  cents  per  hundred  pounds  or  $2  50  per  ton  ; 
lumber  and  all  other  articles  are  equally  high,  so  that  the  Compa¬ 
ny  may  double  its  rates  of  freight  upon  tonnage  above  what  is  here 
estimated  for,  and  then  be  below  one-half  the  present  charges. 

The  business  of  this  Road  will  be  quadrupled  when  the  Road 
now  chartered  from  Belleville  to  the  central  road  in  a  south-east 
direction  is  built,  so  as  to  make  the  shortest  route  from  St.  Louis 
to  the  south,  by  inserting  the  last  link  in  that  great  chain  of  road 
from  Chicago  and  Galena,  by  the  way  of  St.  Louis,  to  Mobile  and 
New  Orleans.  This  road  must  soon  be  built,  and  will  make  the 
stock  of  the  Belleville  and  Illinoistown  Road  almost  invaluable. 

THE  EXTENSION  FROM  ILLINOISTOWN  TO  ALTON. 

By  the  17th  section  of  the  Company’s  charter,  they  are  fully 
empowered  to  extend  their  road,  and  in  February  the  Board  of 
Directors  resolved  to  extend  the  same  to  Alton,  and  contracted  with 


23 


responsible  and  experienced  parties  for  its  construction  and  equip¬ 
ment  at  twenty-eight  thousand  dollars  per  mile,  a  distance  of  24* 
miles,  to  be  completed  by  the  first  day  of  June,  A.  D.  1854. 
The  surveys  have  been  made,  and  right  of  way  is  being  fast  se¬ 
cured.  The  city  of  Alton  contains  about  the  same  population  as 
Belleville,  and,  except  in  its  resources  of  coal,  lias  as  much  ma¬ 
nufacturing  and  more  commercial  importance. 

A  glance  at  the  map  will  show  the  immense  value  of  a  railroad 
line  which  is  to  receive  the  great  southern  travel  from  Illinois, 
Wisconsin,  Iowra,  and  the  East  by  the  Terre  Haute  route,  and 
transport  it  from  Alton  to  St.  Louis. 

Let  us  look  to  the  Illinois  roads  now  constructed  and  in  prospect, 
terminating  at  Alton,  and  others  tributary  which  are  to  have  their 
outlet  over  this  line.  The  first  in  order  is  the  Chicago  and  Missis¬ 
sippi  Road,  the  southern  end  of  which,  seventy-three  miles  in 
length  from  Alton  to  Springfield,  is  now  in  successful  operation, 
with  its  stock  selling  at  9T  cents,  although  the  road  has  been  opened 
but  about  three  months. 

From  Springfield  to  Bloomington,  sixty  miles,  the  road  is  nearly 
all  graded  and  a  large  portion  of  the  rails  delivered,  it  is  intended 
to  have  the  cars  running  by  the  1st  of  October  next.  At  this 
point  is  intersected  the  main  trunk  of  the  Central  Railroad,  fifty 
miles  of  which  will  be  completed  to  La  Salle  by  the  middle  of  June, 
at  which  latter  place,  a  passenger  now  enters  the  cars  and  finds 
himself  in  direct  railroad  communication  with  New  York.  This 
great  trunk  line  will  connect  Alton  and  New  York  by  continuous 
rails,  as  early  as  the  first  of  November  next,  and  will  be  the  first 
line  opened  connecting  the  seaboard  with  the  banks  of  the  Missis¬ 
sippi  river. 

The  Northern  Cross  Railroad  from  Quincy  across  the  centre  of 
the  State,  is  now  in  successful  operation  from  Naples  to  Spring- 
field,  and  all  the  travel  which  the  populous  counties  bordering  upon 
the  Illinois  River,  on  the  line  of  this  road  sent  down  the  river  to 
St.  Louis,  now  seek  their  way  over  the  Chicago  and  Mississippi 
road  to  Alton.  The  work  is  rapidly  progressing  upon  that  part 
of  this  line  of  road  connecting  Naples  with  Quincy,  and  is  expect¬ 
ed  to  be  completed  during  the  coming  spring,  as  soon  as  this  con¬ 
nection  is  made,  the  travel  from  Quincy  and  that  region  seeking 
St.  Louis  will  be  over  this  line,  whilst  the  eastern  end  is  penetra- 


24 


ting  the  State  from  Springfield  towards  the  rich  valleys  of  the  Wa¬ 
bash  at  La  Fayette,  Indiana. 

The  road  is  now  being  surveyed  from  Jacksonville,  through  Car¬ 
rol  ton  and  Jersey ville  to  Alton.  A  large  amount  of  the  stock  is 
subscribed,  and  the  work  is  under  the  auspices  of  enterprising  men, 
and  is  a  line  of  road  running  through  the  most  fertile  agricultural 
region  of  our  State.  Complete  this  road,  and  the  entire  river 
travel  from  Naples  to  St.  Louis,  furnished  by  the  country  upon  its 
east  side,  will  go  by  rails  to  Alton,  as  well  as  the  travel  over  the 
Hannibal  and  St.  Joseph’s  road  in  Missouri.  From  La  Salle,  the 
main  stem  of  the  Central  Railroad,  to  Galena  and  Dubuque,  is  under 
construction,  and  is  being  rapidly  pushed  forward,  connecting  the 
rich  Rock  River  valley  and  the  mineral  regions  of  Northern  Illi¬ 
nois,  and  Wisconsin  with  the  city  of  Alton.  The  road  from  Rock 
Island  to  Chicago  is  being  pushed  with  energy,  intersecting  this 
trunk  line  from  the  west  at  La  Salle,  where  it  will  pour  into  it  the 
business  and  travel  of  the  northern  military  tract,  the  State  of  Iowa 
and  the  Upper  Mississippi  River  seeking  a  southern  direction. 
The  same  may  be  said  of  the  u  Central  Military  Tract  Road  ” 
from  Quincy,  northeast  through  that  fertile  tier  of  counties  that 
even  in  Illinois  are  designated  as  its  garden.-  This  immense  net 
work  of  roads  are  to  disembogue  their  passengers  and  freights  at 
the  enterprising  little  city  of  Alton  ;  but  theirs  will  be  but  a  por¬ 
tion  of  the  business  determining  at  that  point ;  the  great  line  of 
road  from  the  eastern  cities  through  Central  Ohio  and  Indiana  by 
the  way  of  Terre  Haute  to  the  Father  of  Waters,  is  to  terminate 
at  Alton. 

This  road  is  now  contracted  for,  and  under  the  most  flattering 
auspices  is  progressing  in  its  construction.  For  six  years  past  the 
Legislature  of  Illinois  has  been  besieged  every  session  to  charter 
its  great  rival,  u  The  Mississippi  and  Atlantic  Railroad,”  but  has 
steadily  refused  to  do  so,  having  even  framed  the  general  railroad 
law  of  the  State  with  an  especial  eye  to  defeating  it — so  that,  as 
far  as  any  State  policy  can  be  settled  by  legislation,  the  question 
of  a  direct  line  from  Terre  Haute  to  the  Mississippi  River  oppo¬ 
site  St.  Louis  is  determined.  This  line  of  road,  160  miles  long, 
will  throw  all  the  eastern  business  and  travel  passing  over,  and  the 
local  trade  of  the  central  valley  of  the  Wabash,  into  the  city  of 
Alton  as  a  great  receiver. 


25 


Can  any  one  doubt  the  value  of  a  line  of  road  which  is  to 
be  the  recipient  of  these  innumerable  feeders  and  transport  all 
their  trade  and  travel,  seeking  an  outlet  from  Alton  to  St.  Louis. 

The  presentation  of  these  advantages  is  deemed  sufficient,  with¬ 
out  any  argument  to  demonstrate  them.  The  boats  plying  be¬ 
tween  Alton  and  St.  Louis  can  never  compete  with  this  road  for 
the  travel  or  through  trade  which  must  pass  over  it ;  the  navi¬ 
gation  of  the  Mississippi  river,  always  dangerous,  is  frequently 
obstructed  by  floating  ice  during  the  winter,  besides  there  are 
no  attractions  along  its  shores ;  it  lacks  those  revolutionary  as¬ 
sociations  which  hallow  the  waters  of  the  Hudson,  inviting  the 
traveller  to  its  floating  palaces  which  almost  rival  the  railroad 
in  speed,  and  share  with  it  the  transportation  of  passengers. 

Now,  it  is  proposed  upon  the  roads  above  described,  to  negoti¬ 
ate  a  loan  of  six  hundred  thousand  dollars  on  first  mortgage 
bonds,  to  be  a  first  and  only  lien  upon  the  entire  road,  its  ap¬ 
purtenances  and  fixtures  ;  ten  hundred  and  forty  acres  of  coal 
land,  which  cost  the  company  sixty-five  thousand  dollars,  and 
will  be  greatly  enhanced  in  value  by  the  construction  of  this 
road,  its  ferry  rights,  franchises  and  landing,  which  cost  eigh¬ 
teen  thousand  dollars,  and  all  of  which  have  been  fully  paid 
for  and  about  one  hundred  and  seventy-five  thousand  dollars  in 
work  done  upon  the  road,  and  money  expended  in  right  of  way, 
cross  ties,  wood,  &c.,  &c.  ;  making  an  aggregate  of  two  hun¬ 
dred  and  fifty-eight  thousand  dollars  advanced  by  the  stock¬ 
holders,  for  which  sum  there  is  no  lien  whatever  upon  any  por¬ 
tion  of  the  road  or  property  embraced  in  the  trust  deed  to  se¬ 
cure  the  contemplated  loan.  A  copy  of  the  trust  deed  accom¬ 
panies  this  report.  The  bonds  are  for  $1000  each,  with  seven 
per  cent,  interest,  payable  semi-annually  in  New  York,  and  re¬ 
deemable  in  twenty  years  from  their  date. 

A  careful  examination  of  this  charter,  with  the  intrinsic  claims 
of  the  enterprize,  is  invited.  Satisfied,  as  the  company  are,  more 
certain  security  for  investment  has  never  been  offered  from  the 
West  than  is  now  presented  by  this  company. 

Jas.  L.  D.  Morrison, 
President  B.  &  I.  T.  R.  R. 

New  York,  March  12, 1853. 

4 


t 


DEED  OF  TRUST. 


This  Indenture,  made  on  the  first  day  of  March,  in  the  year  eighteen 
hundred  and  fifty-three,  by  and  between  the  “  Belleville  and  Illinoistown 
Railroad  Company,”  (incorporated  by  an  act  of  the  Legislature  of  the 
State  of  Illinois,  passed  June  the  21st,  1852,)  party  of  the  first  part, 
and  Marshall  0.  Roberts,  John  J.  Phelps,  and  Henry  A.  Coit,  of  the 
city  of  New  York,  parties  of  the  second  part :  Witnesseth,  that  the 
said  Company,  for  the  purpose  hereinafter  expressed,  and  in  considera¬ 
tion  of  one  dollar  to  it  paid  by  the  said  parties  of  the  second  part,  the 
receipt  of  which  is  hereby  acknowledged,  does,  by  these  presents,  grant, 
sell,  convey,  assign,  transfer  and  set  over,  to  the  said  parties  of  the 
second  part,  all  the  real  estate,  and  right,  title  and  interest,  estate,  claim, 
and  demand,  of,  in  and  to  any  real  estate,  in  the  State  of  Illinois,  which 
has  been,  or  may  hereafter  be  acquired  by  said  Company,  for  and 
towards  the  construction  of  the  railroad  and  of  the  extension  of  said 
railroad  to  the  city  of  Alton,  which  said  Company  is,  by  said  act,  au¬ 
thorized  to  construct,  in  said  State  of  Illinois,  and  for  and  towards  the 
construction  of  Engine  Houses,  Car  Houses,  Depots,  and  other  tene¬ 
ments,  or  for  any  other  purpose  connected  with  said  road ;  and  all  the 
tenements,  road,  tracks,  rails,  bridges,  and  other  fixtures  whatsoever,  which 
may  be  placed  or  constructed  by  said  Company  on  any  real  estate, 
which  may  be  owned,  held,  used  or  occupied  by  it ;  and  all  engines, 
locomotives,  tenders,  cars,  machinery,  and  personalty  whatsoever,  which 
are  now,  or  hereafter  may  be  owned  by  sa  ompany ;  and  all  tolls,  in¬ 
come,  revenues,  issues  and  profits  of  the  property  hereby  conveyed ;  and 
all  privileges,  franchises,  easements,  rights,  and  interests  whatsoever,  now 
possessed,  used  or  enjoyed,  or  which  may  hereafter  be  acquired  or  possessed 
by  said  Company ;  and  also  the  following  described  tracts  of  coal  lands, 
lying  in  the  county  of  St.  Clair  and  State  of  Illinois,  described  as  follows, 
to  wit :  the  south  half  of  Section  Three,  Township  One  north,  Range  Nine 
west,  containing  320  acres ;  the  east  half  of  north-west  quarter  of  Section 


27 


i 

Ten,  Township  One  north,  Range  Nine  west,  containing  80  acres ;  the  cast 
half  of  Section  Ten,  Township  One  north,  Range  Nine  west,  containing 
three  hundred  and  twenty  acres  ;  the  north  half  of  Section  Eleven,  Town¬ 
ship  One  north,  Range  Nine  west,  containing  three  hundred  and  twenty 
acres ;  and  also  all  the  ferry  right,  franchises  and  ferry  landing  at  and  across 
the  Mississippi  river,  opposite  the  city  of  St.  Louis,  derived  by  purchase 
from  the  county  of  St.  Clair,  in  the  State  of  Illinois ; 

To  have  and  to  hold  the  same  unto  the  said  parties  of  the  second  part,  and 
the  survivors  and  successors  of  them,  and  his  or  their  successor  or  successors 
in  the  office  of  trustee  under  this  deed,  appointed  as  hereinafter  provided, 
forever ; 

In  trust,  however,  to  and  for  the  following  purposes,  to  wit :  Whereas, 
the  said  Company,  in  pursuance  of  the  powers  granted  to  it  by  the  act 
aforesaid,  is  engaged  in  constructing  a  railroad  in  the  State  of  Illinois,  from 
Belleville,  in  the  county  of  St.  Clair,  to  Illinoistown,  in  the  same  county,  and 
from  there  to  or  near  the  city  of  Alton,  in  the  county  of  Madison  and  State 
of  Illinois,  and  has  entered  into  contract  for  the  construction  of  the  entire 
line  of  said  railroad,  and  is  desirous  to  avail  itself  of  the  power  conferred  on 
it  by  the  eighteenth  section  of  said  act,  to  borrow  money  for  constructing, 
completing  and  operating  said  road,  by  issuing  and  disposing  of  its  bonds 
for  that  purpose ;  to  which  end,  the  Board  of  Directors  of  said  Company 
did,  on  the  seventeenth  day  of  February,  1853,  by  a  resolution,  duly  entered 
on  their  records,  authorize  and  direct  six  hundred  bonds  of  said  Company  to 
be  issued,  from  time  to  time,  as  should  be  necessary,  each  for  the  sum  of  one 
thousand  dollars,  to  be  styled  “  First  Mortgage  Bonds,”  all  to  be  dated  on 
the  first  day  of  March,  eighteen  hundred  and  fifty-three,  the  principal  of 
which  shall  be  payable  twenty  years  after  date,  at  the  North  River  Bank,  in 
the  city  of  New  York,  and  should  bear  interest  at  the  rate  of  seven  per  cent, 
per  annum,  payable  semi-annually,  on  the  first  day  of  September,  and  on  the 
first  day  of  March,  at  said  North  River  Bank,  which  said  bonds  are  to  be 
substantially  in  the  following  form : 

First  lorlgage  Horn! 

OF  THE 

“BELLEVILLE  AND  ILLINOISTOWN  RAILROAD  COMPANY 

“  Incorporated  by  the  State  of  Illinois ,  Belleville, 

St.  Louis ,  and  Alton. 

“  Twenty  years  after  date,  the  Belleville  and  Illinoistown  Railroad  Com- 
“  pany  promises  to  pay  to  Marshall  O.  Roberts,  or  bearer,  at  the  North 
“  River  Bank,  in  the  city  of  New  York,  one  thousand  dollars,  for  value  re- 


28 


“  ceived,  without  defalcation,  with  interest  on  the  same  at  the  rate  of  seven 
“  per  cent,  per  annum,  payable  semi-annually,  at  the  same  place  ;  that  is 
“  to  say,  thirty-five  dollars  on  the  first  day  of  September,  and  a  like  sum 
“  on  the  first  day  of  March  in  each  year,  upon  presentation  of  the  coupons, 
“  severally  hereto  annexed,  untill  the  payment  of  the  said  principal  sum  of 
“  one  thousand  dollars. 

“  This  is  one  of  six  hundred  bonds  of  like  tenor  and  date,  and  the  holder 
“  is  entitled  to  the  security  to  be  derived  from  a  Deed  of  Trust  bearing  even 
“  date  herewith,  executed  by  said  Company,  on  its  road  and  other  property 
“between  Belleville  and  Alton,  to  Marshall  0.  Roberts,  John  J.  Phelps, 
“  and  Henry  A.  Coit,  of  the  city  of  New  York,  in  trust,  to  secure  the  pay- 
“  ment  of  the  principal  and  interest  of  said  bonds,  which  Deed  of  Trust  is 
“  the  first  and  only  lien  upon  said  road  and  other  property. 

“  In  witness  whereof,  the  President  and  Secretary  of  said  Company  have 
“  hereunto  set  their  hands  and  affixed  the  seal  of  said  Company,  this  first 
“  day  of  March,  in  the  year  of  our  Lord  one  thousand  eight  hundred  and 
“  fifty-three.” 

And  whereas  the  said  Board  of  Directors  did,  at  the  same  time,  further 
order  that  the  payment  of  all  bonds  which  might  be  issued  under  the 
aforesaid  resolution,  should  be  secured  to  the  holders  thereof  by  a  deed  of 
trust,  to  be  executed  by  said  Company,  upon  its  said  road,  lands,  ferry 
rights,  and  the  other  property,  rights,  privileges,  and  effects  hereinbefore 
conveyed,  which  deed  of  trust  should  be  the  first  lien  upon  said  road  and 
other  property,  rights,  privileges,  and  effects  of  the  said  Company,  under 
which  authority  and  for  which  purpose  this  deed  is  now  executed.  Now 
if  all  the  bonds  which  may  be  issued  under  the  authority  of  said  resolu¬ 
tion,  shall  be  paid  by  said  Company,  at  or  before  the  time,  and  at  the 
place  where  the  same  are  payable,  and  if  all  interest  upon  any  and  all  of 
said  bonds  shall  be  paid  at  or  before  the  times  and  at  the  place  at  which 
the  same  is  payable,  then  this  deed  shall  be  void,  and  the  property,  rights 
privileges,  and  effects  hereinbefore  conveyed,  shall,  at  the  cost  of  said  Com¬ 
pany,  be  released  from  the  operation  and  effect  of  this  deed,  and  all  other 
deeds  or  other  instruments  of  writing,  which  may  hereafter  be  made  in 
further  assurance  thereof. 

But  if  the  said  Company  shall,  at  any  time,  make  default  in  the  payment 
of  either  of  the  principal  or  interest  of  any  of  said  bonds,  according  to 
their  tenor  and  effect,  or  of  any  part  thereof,  then  this  deed  shall  remain 
in  foree,  and  the  said  parties  of  the  second  part,  or  the  survivor  or  survi¬ 
vors  of  them,  or  his  or  their  successor  or  successors,  in  the  office  of  Trus¬ 
tee  under  this  deed,  appointed  as  hereinafter  directed,  shall  have  full  power 


29 


and  authority,  when  notified  in  writing  of  such  default,  by  any  holder  of 
any  of  said  bonds,  the  principal  or  interest  of  which  remains  in  whole  or  in 
part,  unpaid  ;  and  it  shall  be  their  duty,  when  thereto  required,  in  writing, 
by  any  such  holder,  to  enter  into  and  upon,  and  take  possession  of  all  and 
singular  the  premises  hereinbefore  conveyed,  and,  in  person  or  by  his  or 
their  agent  or  agents,  to  take  and  receive  the  income,  earnings,  issues  and 
profits  therof,  for  the  accomplishment  of  the  object  and  purpose  of  this 
deed,  and  shall  appropriate  said  income,  earnings,  issues  and  profits,  First, 
to  pay  the  necessary  expenses  of  keeping  said  road,  and  the  engines,  loco¬ 
motives,  tenders,  cars  and  other  appurtenances  thereof  in  repair,  and  of 
conducting  the  business  of  said  road  in  a  full  and  efficient  manner,  includ¬ 
ing  all  salaries  or  compensation  of  officers  and  other  employees  of  every 
description,  whether  due  at  the  time  of  their  taking  such  possession,  or 
falling  due  afterwards ;  and  the  surplus,  if  any  there  be,  shall  be  paid  from 
time  to  time  prorata,  to  the  holder  or  holders  of  any  of  said  bonds,  the 
principal  or  interest  of  which  may  be  in  whole  or  in  part  unpaid,  until  the 
amount  due  thereon,  shall  be  fully  paid,  when  the  premises  shall  be  de¬ 
livered  to  said  Company,  or  its  legal  representatives. 

And  the  said  parties  of  the  second  part,  or  the  survivor  or  survivors  of 
them,  or  his  or  their  successor  or  successors  in  the  office  of  Trustee  under 
this  deed,  appointed  as  hereinafter  directed,  shall  further  have  full  power 
and  authority,  and  when  notified,  and  required  as  aforesaid,  by  any  holder 
or  holders  of  any  bond  or  bonds,  the  principal  or  interest  of  which  re¬ 
mains,  in  wdiole  or  in  part  unpaid,  it  shall  be  their  duty,  not  only  to  enter 
into  and  upon,  and  take  possession  of  the  premises,  and  manage  the  same, 
and  appropriate  the  income,  earnings,  issues  and  profits  thereof,  as  herein¬ 
before  just  expressed,  but,  also,  as  may  be  needed  to  satisfy  any  such  un¬ 
paid  amounts — to  sell  and  dispose  thereof  in  whole  or  in  part,  at  public 
auction  for  cash,  and  upon  such  sale  to  deliver  to  the  purchaser  or  purchas¬ 
ers  possession  of  the  property  sold,  and  to  execute  to  him  or  them  all 
such  deeds  or  other  instruments  of  conveyance  or  assignment,  as  may  be 
necessary  to  vest  in  such  purchaser  or  purchasers  a  complete  title  to  the 
property  sold,  and  to  receive  the  purchase  money,  out  of  which  shall  be 
paid,  first,  the  costs  and  expenses  of  such  sale,  and  next,  whatsoever  may 
be  due  and  unpaid  upon  any  such  bond  or  bonds,  if  the  proceeds  of  such 
sale  shall  be  sufficient  to  pay  the  same  in  full,  and  the  remainder,  if  any, 
shall  be  paid  to  said  Company,  or  its  legal  representatives  ;  but  if 
such  proceeds  of  sale  shall  not  be  sufficient  to  pay  such  bonds  in  full,  then 
the  same  shall  be  divided  prorata  among  the  holders  of  such  bonds ;  but 
before  any  such  sale  shall  take  place,  the  Trustees  shall  give  notice  of  the 
time,  terms,  and  place  thereof,  and  of  the  property  to  be  sold,  by  advertise- 


30 


ments  published  for  threo  months  in  newspapers  of  general  circulation,  pub¬ 
lished  daily  in  each  of  the  cities  of  New  York,  St.  Louis,  Belleville  and 
Alton,  and  such  sale  shall  take  place  at  the  Court-house  door  in  the  city  of 
Belleville,  Illinois. 

And  it  is  understood  and  agreed,  that  if  at  any  time  after  said  Trustees 
shall  have  taken  possession  of  the  property  aforesaid,  or  shall  have  adver¬ 
tised  the  same  for  sale,  the  said  Company  shall,  before  any  sale  shall  have 
taken  place,  pay  and  satisfy  all  such  sum  or  sums,  due  upon  such  bonds 
as  it  shall  have  made  default  in  paying,  with  interest  and  all  costs  and  ex¬ 
penses  consequent  on  such  default,  then  all  such  proceedings  by  said  Trus¬ 
tees  shall  cease,  and  said  Company  shall  be  restored  to  the  possession,  use 
and  enjoyment  of  its  aforesaid  property. 

And  the  said  Company  hereby  covenants  to  make,  execute  and  deliver 
to  the  parties  of  the  second  part,  or  the  survivor  or  survivors  of  them,  or  his  or 
their  successor  or  successors  in  the  office  of  Trustee  under  this  deed  appointed 
as  hereinafter  provided,  from  time  to  time  hereafter,  as  it  may  acquire  pro¬ 
perty,  real,  personal  or  mixed,  all  such  further  assurances  and  instruments 
of  conveyance  or  assignments,  as  may  be  necessary  to  subject  all  such 
property  to  the  operation  and  lien  of  this  deed,  which,  when  made  and  de¬ 
livered,  shall  be  held  to  relate  back  to  the  date  of  this  deed,  and  shall  be 
as  effectual  to  subject  the  property  therein  conveyed  to  this  lien,  as  if  now 
executed  and  delivered,  and  all  the  property  thereby  affected  were  now 
owned  by  said  Company  and  now  conveyed. 

And  it  is  hereby  further  agreed,  that  in  case  of  the  death,  or  refusal  or  in. 
capacity  to  act,  of  any  one  or  more  of  said  parties  of  the  second  part,  or  of 
their  successors,  the  said  Company,  and  the  surviving,  remaining  or  acting 
Trustee  or  Trustees,  shall  select  another  Trustee  or  Trustees,  to  fill  the  va¬ 
cancy  so  created,  and  shall  thereupon  execute  and  deliver  to  the  Trustee  or 
Trustees  so  selected,  all  such  further  assurances  and  instrument  of  convey¬ 
ances  or  assignment  as  may  be  necessary  to  enable  him  or  them  to  exe¬ 
cute  with  the  others,  the  trust  hereinbefore  created. 

And  the  said  parties  of  the  second  part,  respectively  covenant  faithfully 
to  perform  and  fulfil  the  trust  herein  created. 

In  witness  whereof,  the  President  and  Secretary  of 
said  Company,  have  hereunto  set  their  hands,  and  caused 
the  seal  of  said  Company  to  be  hereto  affixed  ;  and  the 
said  parties  of  the  second  part,  have  hereunto  set  their 
hands  and  seal,  the  day  and  year  first  above  written. 


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